tv Your World With Neil Cavuto FOX News June 22, 2011 4:00pm-5:00pm EDT
and complete recap of the news including all of the news from the casey anthony trial tonight on fox report. for all of us at "studio b" thank you for being here and have a great afternoon. >>neil: the huge hole got deeper. welcome, everyone, i am neil cavuto and spending, now, tonight for the congressional budget office the country of america is owing, all we owe close to all we have a debt close to 70 percent of g.d.p. but at the rate we are going, more than twice our g.d.p., little more than two decades from now. that is if we do nothing. south dakota republican congresswoman says we better
just start cutting. now. congresswoman this is a heightened urgency, isn't it. >>guest: i wish i could talk to you and bring you good news but today we don't have good news, not from c.b.o. >>neil: the c.b.o. is saying in the numbers that it is bad but getting worse and at a rate faster than we thought and that the debt situation just compounds and compounds and compounds. now, what do you do to stem the flow right now? >>guest: the first thing is have a plan from the president. he has in the given us a plan. his budget got zero votes in the senate. and we are waiting for the senate to produce a budget and it has 750 days sense they offered a budget and that is why we are out of whack because we do not understands our priorities. >>neil: it is interesting because the report comes at a time when the c.b.o. is crunching the numbers and it does not err on what you do if you cut taxes or whether you
deal with spending but the direction we are going, assuming that this is exactly the direction we are going, it gets a lot, lot worse, and it gets potentially worse on the tax cut things, republicans push this effort to extend and make permanent, for example, all of the tax cuts particularly those on the upper income, but if the c.b.o. is saying that is going to make this situation worse, what do you say? >>guest: well the situation gets worse if the tax cuts were to go away. that is the situation for matter what. we are in a situation where we are going downhill, so, the solution all along and what we have continuously been saying the answer is not to raise taxes. i talk to people and i tell them we have the most predictable financial crisis and the fact we don't have a plan is a failure of leadership. that is the situation. people are here in washington, dc, we are choosing not to
address it because they want to get re-elected. >>neil: well, both sides do it. >>guest: absolutely. >>neil: what do you think of the plans on the table now to deal with this debt crisis if we don't raise the debt limit? the senate democrats are looking at an effort to attach in added spending to that, might go along for some tax cuts but for now if they could have a rider this could be on board. what do you make of that? >>guest: it is completely irresponsible to spend more money in light of the report we have today. essentially in the house of representatives we need from our conference to change the way we do business and spend our money. we want significant cuts. reforms. so we to in the get if this position again. and that resonates back home with the american people. they understand the need to balance the budget. so when we talk about the debt ceiling and the solution, more
people do not want to pull more dollars out of their pocket to give to us when we have been irresponsible. >>neil: do you think the numbers that are coming out of the c.b.o., and they can be all over the map and you are right, from one report to another they can show a different picture, but it is gloomy that republican presidential candidates should be careful overdoing it on the cuts? they can trip over themselves by offering the most aggressive tax cuts? or have at it? >>guest: what people across the country want is tax reform. they want to know that everyone is being taxed fairly and everyone is being taxed and in the getting loopholed and waivers and that we are approaching this with common sense. when presidential candidates talk about tax policy and tax cuts, we need to talk about we are not raising taxes on people but we are making sure we are equitably taxing people. >>neil: so if the debt ceiling
was close to the early august deadline with no agreed pending cuts to it, in other words, dollar for dollar, whatever amount we raise it by, $2 trillion, and there were not corresponding amount of cuts as speaker boehner has asked for, would you vote against it? >>guest: that would be a very difficult vote to say you endorse the policy in the hole we going down. we need more cuts than what we have. raising this debt ceiling we need reforms. what the package will look like i'm not sure. the negotiations are still going on. but this report only confirms we need to containing our activities. >>neil: good to see you, thank you very much. and a news alert, ben is done, bernanke is telling reporters moments ago not were more he can do to stimulate the economy, and interest rates as low as they can go and unchanged today and
all of that is tying up the treasury notes and bond dozen keep the market rates low, not being extended today. but, while he is done, he advised congress and the president that they are not. hopping on the deficit, the sooner the better, and democratic congressman says that he is for cutting but not when it comes to one program. congressman, if to have you, you keep social security off the list, right? >>guest: social security did nothing to add to the deficits, did it contribute to one dime, so no reason to make the cuts in social security when it did not contribute to the deficits. >>neil: but what c.b.o. is saying over the next 10 years the corresponding costs this growth in social security, medicare, medicaid, what have you is going to double as a percentage of g.p. so, whether they contribute to what happened or not not you have to do somet? >>guest: that is a dangerous statement you made. if they contribute or not, if i
say whether you contribute or not, i should put you in jail but you would say no. >>neil: i am telling you it has contributed, i think, but in this case if you know as a message of the g.d.p. the cost of social security is going to be rising, and you know that there is no money in the til, is there anything you could do do curve or slow the growth down? >>guest: yes, but it is not social security, remember, social security is very stable way into the future because after we deal with the baby billioners, we are actually going to see a dip and c.b.o. will tell you that social security costs stay constant back, when we are beyond 2035. >>neil: but they moved that up five years, so if it is so great why does they move it up? would you do anything, at all, to address entitlements of any sort? >>guest: absolutely.
you could do any number of things. >>neil: give me a couple of examples. >>guest: health care costs by making improvements on the historic health care reform that already helped us take out $500 billion in waste and fraud from the system. and you can build on that but the present principle cost--. >>neil: wait, why is it moving ahead at three times inflation rate? >>guest: if i could answer, the reason the health care costs continue to rise is not because of medicare, it is because the private sector costs of health care continue to rise faster than medicare and, so medicare is pulled along by the rising costs in the private sector. the principle driver of the deficits has not been social security or head start programs, republicans are looking to cut but the bush tax cuts and unpaid for wars in iraq and afghanistan, trillions given away through the bush tax cuts
to wealthy folks. >>neil: why does it always come to bush. are we going to be in a situation in 3 years where we are still blaming this poor s.o.b. for everything? why do we move on and admit we are in a pickle, why can't we just focus on the here and now without going back to the same old talking points, bush, bush, bush, bush, bush. >>guest: we are in difficult times with large deficits. yes, yes, but you can't just say disregard the thing that drove us into the largest deficit: the bush tax cuts they were the most expensive component that we cannot pay for, in the--. >>neil: i go back do this notion we had a recession that he inherited, in implosion--.
>>guest: he came in with budget surpluses. >>neil: that 4th adequate -- quarter was slid into a recession. congressman i am just asking, i am telling you we saw the nasdaq cut in half, we saw an internet boom implode, all the money in revenues from that go away, and you are quite right to cite wars and to cite the other events and quite right to cite 9/11 but it doesn't matter. that is in the past. what i am asking--. >>guest: it is not in the past. >>neil: i am asking you now, is there anything in terms of entitlements you look at addressing or shaving right now? >>guest: absolute law but first tackle the biggest drivers to the deficit which are the bush tax cuts. >>neil: fine, fine, fine, so
you just raised taxes. >>guest: put it this way, if i could answer the question, during the clinton years with the tax rate that i would propose we send them back to we had 22 million jobs created during the airport years opposed to during the bush years where we lost--. >>neil: so raise taxes but eleven the entitlements. you do not give me one example. >>guest: i put the tax rates for those above middle income back to where they were before. >>neil: so you are not addressing my question. not address, the entitlements? >>guest: sure, sure. >>neil: i am begging you for one example. >>guest:(e) could find more saving in the health care system by making it difficult for the providers of the health care, to charge consumers, the seniors under medicare, so much money for the service and provide the
copying of services you save billions by making it difficult to "game" the system. >>neil: that is one idea. >>guest: i have any number of ideas. >>neil: i'll all ears. in the meantime you mentioned the president will make a big address tonight not on the issues we are discussing but on the war in afghanistan. whether he adds troops, or pulls them out, we're covering it on fox business tonight at 8:00 p.m. don't forget to be there. in the meantime when unions try pulling a fast one on our judge and think he doesn't notice, all rise, because the judge ain't happy.
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months to as little as ten days, the most dramatic change to federal union years in 60s -- 60 years. >>judge napolitano: the evil here is the national labor relations act, a law from roosevelt time, that permits five persons that the president appointed to the national labor relations board, to change radically the relationship between union and management, and this is not done by congress, not done after a vote, not even purporting to be fair or balanced, it is just what those five people want to do. >>neil: they can decide what companies do regarding union membership? >>judge napolitano: yes. a large corporation is paying people well, excepting them well, there is in union. the union walks in and for years will lobby and lobby to try to get support for a union the when they say they want the election under the new rules it happen ms. ten days and the corporation doesn't have enough time to
present the opposing argument. right now it is 90 days, so there is adequate time, it is fairer for the anti-union people to say, you are far better off without the union. right now, the corporations will be caught flatfooted because the union organizers are ready to go and they drop to paper to the nlrb and the nlrb orders an election in ten days. >>neil: this cannot be challenged? >>judge napolitano: here is what management can do: yes, they can challenge it. they can drag their feet. yes, they can slow it down. but, whoever is on the nlrb gets their way. if ron paul appointed the members of the nlrb we would not have rulings like this but they would promote his free architect -- free market agenda. the people there now promote the big government central planning and this legislation lets the president put his own people on
there. there is nothing congress can do. >>neil: say you cannot quickly overturn it or revoke it if something happened and the company has a challenge or whatever? >>judge napolitano: union elections that are run by the nlrb can be challenged. guess where the challenge goes in to the nlrb. so it is a rigged system. the regulated state, congress giving their authority to under democratic presidents will favor labor unions and under republican presidents will favor management. >>neil: thank you, judge. and now a look at this, the growing number of american men and women fighting in afghanistan. tonight the president is expected to call for a troop withdrawal. but how much in up next a gulf star mom who says it is the wrong call.
>>neil: 10 years and 100,000 troops later president obama is ready to pull troops from afghanistan, or start the process and will announce had in a highly anticipated speech. he has been criticized by military leaders as too much too soon. my guest feels the same, a gold star man, her son died while serving in iraq. good to have you back. i regret under these circumstances. but you are not happy with this. why not? >> i'm not, i feel like this is a political ploy on the president's part and i'm sick and tired of him messing with our troops. they are in the pawns to be moved around for his career, for his campaign. these are men and women who are willing to sacrifice their life in need be for our freedom.
we need to give them what they need to be successful. we need to do what general petraeus has determined is the best for our troops and for what going on and general said we can start bringing the troops home in 2012, in the now, and we need to gradually do that. and i feel like with the poll numbers that president obama has been down, and the election coming up, this is another strategy to try to get the vote and he needs to get our hands off of our men and let them successfully complete the mission. >>neil: the president isn't going to pull them all back but the argument is, it is a slow, slow, slow withdrawal, and 17 or 18 months ago he beefed up their president and that the white house is,ing a we are still looking at a bigger and firmer commitment than when he came interest office and you do in the buy that? >>guest: well, we will have to wait-and-see how many he
determines but when you pull the troops out, we are jeopardiesing -- jeopardizing the troops that are there. we are jeopardizing more of those lives of our men and women who are willing to give. to the max for us. and this is not okay. he needs to listen to general petraeus and follow-through with what his recommendations are, and while our troops are there we need to make sure they are equipped, they have what they need to complete the mission. i visited iraq twice and while i was this i befored a lot of the troops and that is what they said: sure, we want our troops home. but they did not want to jeopardize what they have already achieved over there and if that comes back to the place where our national security is still in jeopardy, now is not the time. this is in the right time to do that successfully. >>neil: there is war fatigue
going on and you have lost accomplish and blood in the battles so you have a different perspective, but what do you think of this country, now, whether afghanistan or a role in iraq that we are just tired. >>guest: i think you cannot we be at war for almost 10 years and not feel fatigue. my brother is currently serving in the air force has done seven deployments to the middle east and our troops are getting tired. but they need support. they need as americans, we need to stand behind them and support them. our government needs to give them what they need, to be successful. they are raise magazine men andy are amazing men and women and i am proud of them. we don't want to occupy. we don't want to stay there. or take territory. we look forward to that time
when our troops can come home and can successfully come home as they complete the mission. >>neil: debbie you do your fine son proud, thank you very much. >>guest: i would like to say quickly i am flying out in a few minutes to los angeles and we are doing a fundraising to send care packages to our troops and your viewers can see the eight hour telethon for our troops to let them know we love you, we appreciate you, you are not forgotten. [ male announcer ] this...is the network --
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get help paying for what medicare doesn't... and save up to thousands of dollars. call this toll-free number now. >>neil: you want on get people working? start spending. senate democrats calling on the vice president to tack on new stimulus measures to the debt costs. and my next guest is former new mexico governor joining us. governor good to see you. what do you make of the plan from democrats that is making spending part of the discussion? >>guest: well, i see it as more of the same. president johnson, that would be me, would propose a balanced budget for the year 2013 and i would eliminate the corporate income tax, recognizing that it is a double tax and
re-establishing this country as the only play to grow, nurture and develop business. if you just take the stimulus over the last couple of years, pretend we didn't do this, and if we with have applied that to the let nation of corporate in come tax we would be seeing real results from those being planted a couple of years ago. >>neil: governor there is always a gap between the cut in taxes and the revenue generated to washington, and in the interim and the loss of that tax revenue you have a dip, in other words, deficits get worse. the money comes in, like gang busters but it is spent equally fast in washington. how as president would you stop that? >>guest: well, i think that you point out a reality and taking that reality, do you spend more money in ways that are, i think, a proven wrong with the last two stimulus
packages? how about applying it to real fundamental change like eliminating the corporate income tax, providing certainty when it comes to business, something that government really can do if you look at the coal fired electrical generation industry. we are in the building new coal-fired plants because of the uncertainty of emissions and what the plants will cost. do away with that uncertainty and you are talking hundreds of thousands of jobs and when it comes to taxes for you and i we should be looking at eliminating the income tax, the irs, and replacing it with a consumption tax, fair tax, which, by all free narcotic economists' reckoning is that: a fair tax that program mets taxes, the notion of fairness, and the notion of saving. >>neil: give you have a the love -- lot of great ideas and
you are not a crazy guy. you are in the one to be dismissed and i have seen this but you are not invited to the last big presidential debate, you are a two-term give, you do light up meters when people hear you in debateses and discussions, yet you were in the included in the august group. why? >>guest: a couple of things have happened if the last couple of weeks, things i have said that came out with a poll from whom among the presidential candidates is looked favorably in their him state. i'm the only candidate running for president that that is looked upon favorably. and a couple of days ago they came out with a report of, who, actually, presided over job growth in their state? and the number one candidate running for president was me. and i never claimed to create
one single job as good of new mexico but it continues out it was the highest rate of everyone running for president. but what i did create was certainty. business in new mexico went to bed at night knowing the regulation and that environment would note get worse and i got to run all the agencies in state government i argue it got significantly better. >>neil: you have a lot of critics would pounced on that because they see you are getting traction and saying, well, he was governor but from 1995 to knee, a billion time for our economy and markets and that was the wind at your back and something your opponents did not have the advisory constitution to -- have the virtue to enjoy. commission i vetoed 750 billions with thousands of line-item
vetoes and only two were overturned. i was re-elected. i was a penny pincher and i did this all in a state that was 2-1 democrat and you could argue that the wednesday were really in the face. >>neil: that is a fair comment. but here is the other one: you are not conservative enough socially conservative. the republican party that might be a problem for, your eye views for legalizing marijuana and woman's right to choose, that whatever your credentials which are substantial, this will be tough. >>guest: well, what i talked about in new mexico when i ran for governor the first time, the best government is the government that rules the least. the best thing that government can did for you and i as individuals is to empower you and i as individuals to be all that we can be and you know, this are bad actors out there when it comes to human beings,
business, and environmentally there were businesses that were bad actors that if not for the government stepping in and looking over those situations, it would have been worse. >>neil: what i am saying, on marijuana and legalizing and women's right to choose, potentially contentious issues in the republican nominating process, do you disagree? >>guest: that is what i am putting myself on the line to do, to become the spokesperson for the republican party. what is this country? isn't this country, life, liberty, the pursuit of happiness in the country of freedom and liberty and personal opinionsibility that guess along -- goes along with that? so much of what government spends does in the make a difference in our likes and i have eight years of experience to say that people appreciated that. >>neil: with so many looking to be in the race now and others
hinting, if you were invited to the next debate it will be crowded. >>guest: well, 126, now? >>neil: 127. >>guest: there are only 126, only 126, so this is a finite amount and this is the contest. >>neil: give, thank you very much. good to have you. and after 2008 election, they are hitting where it hurts and not just in the voting booth but one of hillary clinton fundraisers explains.
you must love it. >>guest: i love the trend. for a lot of reasons. it means investors are eating up the inventory that is out there and if we can burn off the glut we will see the real estate prices coming back and they are mainly investors and a bottom feeder. i am one. i bought a property this week. in my hometown of nashville where i buy most properties. i try to keep everything in arm's reach, but there are great buys out there, the best real estate market in 30 or 40 years and if you borrow money, the interest rates are really low so a great time to be a buyer. i love it for that reason and keep in mind, 15 to 20 percent of the market was cash buyers anyway so the fact it is up to 23 to 30 percent means a lot of cash is entering the cash market, but real estate, man, the dirt and mortar people love it. >>neil: but the numbers are
substantial, one out of three are paying cash, but there are not a of them. do you see that changing? >> that is changing, again, location to location. there are some markets that are still in the -- deer in the headlights. what could be working in dallas or houston may in the be working this las vegas or los angeles. you have to look at your market, even the neighbors in your market and see if they are overbuilt and if the inventory is built up and if it will be a while before they recover but in some of the vibrant markets it is a good time. >>neil: someone like you would support the move to put more cash, certainly, down on the home, this idea of 20 percent as a downpayment, so everyone has skin in the game and they cannot walk away, what do you think of that? >>guest: of course, the old fashioned idea people qualify for listens instead of fogging
up a mirror, we did not check their job or their at set base and we did not check the track record, we only check the fico score, if they are dog we will give them money if they have a fico score. we have to go back to old fashioned underwriting and that is the move and trend in the banking world. there are responsible lenders out there again. thank goodness. >>neil: dave ramsey, if to see you. from paying cash to ponying up the cash. some people will in the let go and fighting back with checkbooks and my guest a long time fundraiser for hillary clinton and last night she raised $1.2 million. for g.o.p. candidate huntsman
jr. >> very nice to see you again. he's a great man. and he is the republican candidate who i think is best suited to be president as he said in the announcement. we are electing a person best able to serve. he is, as a republican, i believe, the one most likely to beat president obama. >>neil: and the latest person to enter, as well as being ambassador to china, he is on the bought o the poll. >>guest: it is okay i take you back to 1992 with an unbeatable incumbents, and a democratic field with a bunch of names we cannot remember and a governor from a small state with a big heart and a big brain entered and had one theory which was "it's the economy, stupid," and this is a country where whether you are republicans or democrats
we want to come together. >>neil: but here is the distinction and i have great respect. i talked with his dad yesterday, one thing i will say, bill clinton was never teamed up at that point with george bush sr. and this governor, this ambassador, has photos and the like with this president who he is running against. only months ago, his ambassador, will that hurt him? >>guest: i don't think is. i think it should be to his credit. it doesn't mean he agrees with everything and certainly we will see in the campaign he does not agree with everything that president obama has done, but, jon huntsman warranted to serve his country and he served his country well. i just got back from china and he did a great job for us in china and that is our duty, to serve our country when asked. i think it is to his credit and, also, it shows that he can work with people on both sides of the aisle. >>neil: but the issues with
him, that i raised with governor johnson, he is considered a progressive. that is, governor huntsman, and open on women's right to choose, and modern about education funding and the like and all the issues that the core republican primary voter, particularly in the opening salvo, although i know he will concentrate on new hampshire, could be a problem. >>guest: i don't see that as a problem. governor huntsman is pro life. he is fiercely conservative fiscally. and i believe that at this point in our history we need to focus on the fiscally conservative candidate and the social issue where you are on the right or you are on left i am pro choice but i am not going to allow the abortion issue to hijack me to the left and deny what i think
president obama's mistake is, on the economy. i hope that the republicans have a little bit egg idea than that. >>neil: where did you raise the $1.2 million? one guy where a check. >>guest: in, no, no, we cannot do that. $2,500 a person. there broad support for a fiscal conservative. we must not let the social issue be the tail that wags the dog. the dog is who is the most pro growth president, who will bring back the american dream? >>neil: but that issue--. >>guest: we will not
discriminate on the basis of that. that is bad if it is out there. it is bad if race is out there. that not what we are judging a person on. >>neil: when you read a poll that says one out of four or five americans would not vet for a mormon does that trouble you? >>guest: i think americans are more fair than that. i don't believe that poll. >>neil: would you say do a general kennedy thing, get the mormon thing out there? >>guest: i think it's out there. i think the american people they do in the know john -- jon huntsman. >>neil: don't you think you should say, look, it is not what you think, we did not worship aliens. >>guest: that is not what you start with, an assumption that the membership are bias. you start where jon huntsman has started which is to help expire
people to believe in the american dream. when president obama first went abroad to britain he was asked, do you believe in american exceptionalism and he swallowed and said, i believe in american exceptionalism but the greeks believe in greek exceptionalism. that is not his view of this country, he believes this is and 8 be for a long time the greatest nation on earth but only if we have leaders who will lead. >>neil: thank you, and nine republican presidential candidates and only one taking a kingsford. slow down and grill.
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>>neil: and now, a group of lawmakers moments ago with a new pledge and with all the presidential candidates, we are up to these three who would sign on to that, congressman ron paul, the businessman herman cain, and the former minnesota governor pawlenty. now, is that a bad sign from a guy helping to put together a plan in the first place, republican congressman jordan of ohio. congressman, only three of these guys, and the latest two were just now that signed on? >>guest: this just started so it is beginning momentum. the bill just came out, the balanced budget amendment bill came out of committee two weeks ago is the amendment is building, and you can sign up as a citizen and members can sign up, too, and we have 14 house members and 11 senators and now three presidential candidates so we are off to a great start. we just launched this and our
conservativeups launched this and we had a nice press event. the momentum is building. we are going broke. we have to do bold things to put the country on a path that is sustainable. members understand this. >>neil: you did not make the balanced budget, and now you facing the debt ceiling in august, congressman, and you are saying you are on board with this or we will net raise the debt ceiling? >>guest: we with rather, if we are not going to do the bold things it fix the country we with rather deal with the problem now. we are headed -- you know the numbers, c.b.o. has a new number that looks worst than expected. the debt to g.d.p. ratio was comparable to the countries in europe with big problems right now. we are headed to the same place if we don't fix it. other position is, do the right thing in the shore term with cuts, in the midterm with cups and long term change america fundamentally. we have a chance for the first time in american history to pass
a balanced budget amendment to the house of representatives and the senate, send it to the states for ratification. can you imagine if we actually get that dodge the game changing difference that will be for future generations and for this great country? we think it is that important and that is why we laid out our land and more and more people are coming on board. >>neil: can you support a republican nominee who did not support your plan? >>guest: what i find, republicans want somebody who can boat president obama because we understand his policies are taking us in the wrong direction completely but it is better for a candidate to support this plan because it is the right plan but in the end we will support the enormity knee because they will be better than who is in the white house. but we want them to support our plan. >>neil: understood. now, a final thought on the on .
study that screams out for entitlement reform but i talk to democratic congressman who said not neated right now, and are you guys just going do remain at loggerheads? >> i hope we get something to cut caps and balanced budget amendment and hope we reform medicare, reform medicaid, and fixes it so that they did not go broke with the rest of the country in the process. so we are confident that can happen. there are some democrat whose get you have to deal with those entitlement programs. so hopfully that is part of the agreement. >>neil: and now the dow dug down 80 points on concerns about the report that says, well, we are in trouble.
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